The Fictional Country of Gameland Has the Following Characteristics: Its

question 32

Multiple Choice

The fictional country of Gameland has the following characteristics: its citizens are privately owning all resources;the resources are guided to their most productive use through market prices;goods and services are channeled to consumers who value them the most;and there is no central authority to protect property rights or enforces contracts.The economic system in Gameland is most likely:

• A) Pure command system
• B) Pure capitalist system
• C) Mixed system
• D) Transitional economy
• E) Economy based on religion

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Definitions:

Modified Capitalism

An economic system that incorporates elements of capitalism with various degrees of government intervention or social welfare policies.

Corporate Social Responsibility

A business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders.